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In an interview featured in the MACIG West Africa 2020 report, Quantum LC CEO Joseph Titus Glover outlined his entrepreneurial vision: "My business journey has moved from selling mining equipment to offering mining contract services, and hopefully will eventually lead to owning a mine."
The company secured a significant contract with AngloGold Ashanti's Obuasi underground mine redevelopment project — what Glover described as "the lifeblood of the company" — with potential for long-term engagement contingent on strong performance.
Quantum LC established two key joint ventures: WBHO/QuantumLC JV Ltd. with South African firm WBHO, and a partnership with Portuguese company Mota-Engil to bid on AngloGold Ashanti Iduapriem mine projects in Tarkwa.
Glover advocated strongly for local contractor empowerment: "The mining industry in Ghana must empower local contractors to execute most contracts." He noted that service diversification — spanning equipment rentals, drilling, blasting, haulage, tailings dam construction, and personnel training — was essential given irregular contract availability.
On banking and capital access, Glover noted that while Ghanaian banks have improved credit assessments, equipment financing interest rates still range from 8.5% to 13%, presenting challenges for local companies seeking to grow.
On renewable energy, Glover acknowledged that despite Quantum previously distributing solar products, initial capital costs and energy storage requirements make renewables economically unattractive for power-intensive mining operations currently.
In an interview featured in the MACIG West Africa 2020 report, Quantum LC CEO Joseph Titus Glover outlined his entrepreneurial vision: "My business journey has moved from selling mining equipment to offering mining contract services, and hopefully will eventually lead to owning a mine."
The company secured a significant contract with AngloGold Ashanti's Obuasi underground mine redevelopment project — what Glover described as "the lifeblood of the company" — with potential for long-term engagement contingent on strong performance.
Quantum LC established two key joint ventures: WBHO/QuantumLC JV Ltd. with South African firm WBHO, and a partnership with Portuguese company Mota-Engil to bid on AngloGold Ashanti Iduapriem mine projects in Tarkwa.
Glover advocated strongly for local contractor empowerment: "The mining industry in Ghana must empower local contractors to execute most contracts." He noted that service diversification — spanning equipment rentals, drilling, blasting, haulage, tailings dam construction, and personnel training — was essential given irregular contract availability.
On banking and capital access, Glover noted that while Ghanaian banks have improved credit assessments, equipment financing interest rates still range from 8.5% to 13%, presenting challenges for local companies seeking to grow.
On renewable energy, Glover acknowledged that despite Quantum previously distributing solar products, initial capital costs and energy storage requirements make renewables economically unattractive for power-intensive mining operations currently.
"We deserve to take ownership of our own resources and set an example in the industry" — Joseph Titus Glover, CEO, Quantum LC.
Source: MACIG West Africa 2020.
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